SOLUTION: Emma has money in two savings accounts. One rate is 5% and the other is 11%. If she has $300 more in the 11% account and the total interest is $137, how much is invested in each sa
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Question 1003090: Emma has money in two savings accounts. One rate is 5% and the other is 11%. If she has $300 more in the 11% account and the total interest is $137, how much is invested in each savings account?
I can't figure out how to set it up :(
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Amount @ 5.00% x
Amount @ 11.00% 1 x + 300
Total interest earned = 137.00
5.00% x+ 11.00% ( 1 x + 300 )= 137
5.00% x+ 11.00% * 1 x + 33 = 137
5.00% x+ 11.00% x + 33 = 137
0.05 x+ 0.11 x = 104
0.16 x = 104
x= 650 Amount @ 5.00%
=
Amount @ 11.00% = 1 * 650 + 300
= 950
CHECK
32.5 + 104.5 = 137
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